Quote from @Devin Peterson: Quote from @Kieran Dowling: Hello,My parents helped me by my first rental property .

I wanted a house for myself to live in and I had been living with parents for two years to save money.

Lots of good advice here, but no one asked what your parent's retirement plans are?

@Lauren Ruppert Yes, an LLC can sell a property to your child’s LLC, ideally at fair market value (FMV) to avoid gift tax complications.

Quote from @Martin Phinney: My wife and I are considering a move from the Seattle area to the Scottsdale area to be closer to her parents.

It would be mainly rented to alumni, parents of students and people exploring the area by the University of Florida.  

Becoming a LandlordYour house appreciating at 5% annually = $25K/year.Your parents' larger house = $30K/year.Financing the PlanTake out a mortgage on your house to buy your parents' house.If their mortgage rate is lower than today’s rates (6.75%), keep their mortgage and assume it.Why It WorksYour tenants pay the mortgage—not you.Each monthly payment includes ~$300 toward the principal.

While I know this isn't a lot in today's market, I believe there are creative ways to make it work.I’m a former foster child who was declared independent as a teen, so I've been living with close friends that I consider family.

However, I am thinking of having my parents who are retired living there part of the year and doing STR for the remainder of the time.

Think through what your parent or grandparents paid for their house.